The global assessment services market is expected to reach USD 10.73 Billion by 2026, according to a new report by Reports and Data. The increasing demand from competition-conducting authorities to enroll specialist exam-conducting companies and the rising preference among the governments and corporates to opt for online exams is anticipated to drive assessment services market over the coming years. Deploying technology is making the recruitment method more effective and also helping them join with potential candidates through aptitude tests.
A rising number of young jobseekers and entrepreneurs are one of the significant drivers for the market. They often refer to the internet platform where they can find new and various forms of employment, which can offer adaptability and increase income-earning opportunities.
Key companies operating in the global market include: Key participants include Korn Ferry, AON PLC, IBM Corporation, Pearson VUE, TeamLease, DDI, PSI Services LLC, Hogan Assessments, Talent Plus Inc., Cubiks, Aspiring Minds, TTI Success Insights, AssessFirst, Mettl, Prometric Inc., Chandler Macleod, MeritTrac, and Psytech International among others.
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Table of Contents-
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2016-2026
Chapter 3. Indicative Metrics
Chapter 4. Assessment Services Segmentation & Impact Analysis
4.1. Assessment Services Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
126.96.36.199. Increasing number of competitive examinations and certifications
188.8.131.52. Growing need for skill assessment for increasing employability
184.108.40.206. Rising population of the young labor force
220.127.116.11. Increasing demand from competition conducting authorities to enroll specialist exam conducting companies
18.104.22.168. Growing preference among corporates and the government to opt for online exams
4.2.3. Market restraints analysis
22.214.171.124. Budget Concerns
126.96.36.199. Connectivity Issue
188.8.131.52. Improper utilization of assessment tools
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
The report covers a detailed examination of the market scenarios and trends on a regional and global level. The key regions covered by the report include North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. The section covers expected growth rate of each geographical region, micro and macro-economic factors, upstream and downstream industries, regulatory framework, growth trends, and shift in consumer preferences. It also studies import/export, supply and demand ratio, production and consumption and presence of key companies in the region.
The study covers the current competitive scenario with a special emphasis on the strategic initiatives taken by the prominent players of the industry. The report specifically focuses on strategic alliances such as collaborations, partnerships, agreements, mergers and acquisitions, joint ventures, and product launches, among others. The report also offers statistical analysis by utilizing tools such as SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis.
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The research report provides an extensive analysis of the global Assessment Services market with a focus on key companies involved in the market and segmentation of the market based on application, types, and regions.
Type Outlook (Revenue, USD Million; 2016-2026)
- Entrance Assessment Services
- Recruitment & Promotion Assessment Services
- Certification Assessment Services
Medium Outlook (Revenue, USD Million; 2016-2026)
Further key findings from the report suggest
- The certification assessment services are projected to grow at the fastest rate of 8.7% in the forecast period which is attributed to the importance of core focus of certification assessment services to review and determine the validation of submitted certification by individuals. Certification Assessment Services requires reviewing different types of accreditation like professional certification, academic degrees, and product certification, among others.
- The online assessments services held a larger market share of USD 4.21 Billion in 2018 and are forecasted to have a CAGR of 7.7% in the forecast period owing to a growing emphasis to source and promote the candidates with aptitude and attitude, which are essential for achieving the objectives of an organization.
- The Asia Pacific region is forecasted to have the highest CAGR of 8.8% during the forecast period due to a surging number of competitive examinations and certifications, and an increasing requirement for skill assessment for increasing employability in the region.
- India held a market share of 29.9% in the Asia Pacific assessment service market in 2018 with a revenue generation of USD 0.43 Billion, which is 10.3% over the revenue generation in 2017. India is expected to experience a growth rate of 10.5% during the forecast period.
- The assessment service market is in Europe as a whole generated a revenue of USD 1.43 Billion in the year 2018.
- The U.K. is expected to have a growth rate of 4.9% during the forecast period. The country generated a revenue of USD 0.27 Billion in the year 2018.
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